The BGV Group Management, co-owned by Hennadiy Butkevych, has recently completed a deal to acquire the company “Zhytomyr Investments,” which owns the Central Department Store (CDS) building in Zhytomyr. This four-story building is located in the heart of the city and is an important part of the urban infrastructure; however, in recent years it has been in unsatisfactory condition, as major repairs have not been conducted for decades.
This is reported by Finway
Major Renovation and Focus on Inclusivity
BGV Group Management has announced plans to carry out a comprehensive renovation of the CDS. The work will include a complete overhaul of the roof, full replacement of engineering networks, facade insulation, and updates to the interior finishes. Special emphasis will be placed on ensuring the space is inclusive for all visitors, as well as preserving the recognizable appearance of the building’s historic facade.
“The relaunch of the CDS is expected to stimulate both the development of the urban environment and enhance economic activity.”
Investment Experience and Regional Development
This project marks the second major initiative by BGV Group Management in the retail sector in Zhytomyr region. In April, the company opened the “Zhyto” shopping center in Zhytomyr, which attracts over 120,000 visitors each month. BGV Group Management has been investing in the development of Zhytomyr region for over ten years, contributing more than 3.5 billion hryvnias to various extraction, construction, development, and other projects. The extensive renovation of the CDS aims not only to restore the historic building but also to further support the economic growth of the city.